Quote:
Originally Posted by Bailey
If you want to upgrade inside the loop look for prices inching closer to $2,000 for a one bedroom. Plus we are throwing up midrise apartment buildings at alarming rates right now...those prices demand the highest rents. Much higher than $2,000/ month. Depending on quality...I've seen these at very expensive monthly rates.
On single family homes...it is very difficult to find a townhouse (say 3 bedrooms) inside the loop, in a decent area, for less than $500,000 . There are some available but look at the quality of the ones asking less than $500K and look at the location. They can be found but there are trade-offs.
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But these aren't particularly high rents, or home prices, for the most wealthy, prime parts of a metro. The problem is so many Americans expect to live in a giant McMansion in a great area and pay almost nothing.
My brother, who lives in a nice (but not top-tier) Detroit sprawlburb, could probably sell his mini-McMansion for around 550-600k. Detroit isn't exactly an expensive, growing or desirable market. Why would core Houston, center of a rich, booming metro, be cheaper?
I'm sure there are plenty of affordable parts of Houston, but if you want to live in the best neighborhoods, close to work and amenities, you'll have to pay.